THE RACE IS ON FOR CRYPTO APP STORES. Tendermint, already known for apps built on the Cosmos blockchain network, has announced the beta launch of a full fledged crypto app store.
The store is set to act as a platform where blockchain DeFi (Decentralized Finance) and other apps can be utilized within a unified framework. 
According to crypto reporting outlet The Block, Tendermint’s app store, called Emeris, will provide a focal point platform where users can interact with various applications, including lending protocols and decentralized exchanges. 
A beta version of Emeris will launch this month, and a full public launch is projected for September. According to Tendermint CEO Peng Zhong:
“Emeris is our most ambitious product to date. We will finally offer end users a one-stop portal to navigate the Internet of Blockchains. Our beta — launching this month — starts fulfilling this vision, with a focus on cross-chain DeFi.”
Tendermint also intends to build a mobile application and a browser extension wallet to provide wider access.
Emeris will debut in beta as a non-custodial dashboard for dapps in the Cosmos ecosystem, allowing users to keep control of their own cash. The focus will initially be on decentralized financial (DeFi) protocols. But Emeris will eventually go beyond Cosmos and feature Ethereum-based and other blockchain network apps.
“Ultimately, Emeris will give access to the best crypto apps, no matter what blockchain they run on,” according to Zhong.
Coinbase also Plans Crypto App Store
The Nasdaq listed Coinbase crypto exchange, which already features Dapp access via its Coinbase Wallet, is working a crypto app store of its own. 
In a recent blog post Coinbase CEO Brian Armstrong said crypto app stores as envisioned would be analogous in many ways to the centralized app stores of Apple and Google, which feature traditional software from thousands of vendors:
“There is now 10s of billions of dollars of economic activity running on [dapps], and a new trend coming out every three months. We’ll work to give our users easy access to all of this from the main Coinbase product.” 
WARREN ON WARPATH FOR FED CONTROL OF CRYPTO EXCHANGES. Sen. Elizabeth Warren (D-MA) is pushing the Securities and Exchange Commission to regulate crypto exchanges. 
In a letter to SEC Chairman Hary Gensler late last week, Warren argued that the exchanges should be treated with the same sorts of regulations that govern Nasdaq or the NYSE:
“The increased use of cryptocurrency exchanges presents unique risks to consumers. Although they describe themselves as cryptocurrency ‘exchanges,’ these platforms lack the same types of basic regulatory protections as traditional national securities exchanges like the New York Stock Exchange or Nasdaq.”
In her letter, Warren appeared to advocate that all cryptos be regulated the way securities are on traditional exchanges. She also called for the SEC to abrogate current state level decisions regarding crypto assets:
“Instead, these platforms are generally subject to state-level regulations for money transfer or payment services. These regulations were not initially designed to provide oversight for sophisticated, exchange-like operations and are insufficient to ensure a safe cryptocurrency marketplace.”
If Warren’s view spurs a regulatory takeover, many believe it would undermine the innovation that comes from a Federal framework where states set and evolve policies. At the moment, some states, including Wyoming, are adopting crypto friendly stances that are resulting in DAO (Decentralized Autonomous Organization) formations and other activity.
Other states, like New York, have thrown up roadblocks for exchanges offering services, and residents wishing to invest.
China recently moved against decentralized blockchain technologies for ideological reasons. They pulled the plug on Bitcoin mining, and have expanded their digital Yuan currency. Not only is the digital Yuan highly centralized, but its granular surveillance and control by the communist government are likely to keep it siloed from wide use by other nations. 
How the U.S. and other nations deal with crypto technologies could determine whether they make the most of China’s rejection of what could well be the next sea change of technology. Analyst Michael Saylor recently opined that China’s moves are destined to prove costly (see our 29 June, 2021 Trends Journal article “CHINA MADE A TRILLION DOLLAR MISTAKE, SAYS MICROSTRATEGY CEO”).
Warren’s letter didn’t highlight the efficiencies of blockchain technologies like DeFi currently creating value and wealth, or the resilience against authoritarian crackdowns of things like decentralized storage and domains.
As highlighted by our June 2021 Trends Journal article, “HUMAN RIGHTS FOUNDATION HEAD SAYS “BITCOIN IS THE REVOLUTION”, a number of human rights groups have strongly advocated for cryptos as a force for good, precisely because of their autonomous protocols.   
Warren’s letter asserted that over the last six months, 7,000 people reported $80 million in losses from cryptocurrency scams. But how the supposed scams related to crypto exchanges like Coinbase or Binance wasn’t specified.
U.S. AHEAD ON CRYPTO-READINESS. Crypto Head, an Australian crypto education outlet, has come out with a report that says the U.S. is currently the world’s most cryptocurrency-ready nation.
To determine a country’s stance on the new global currency, Crypto Head looked at a various metrics, including the number of crypto ATMs, accessibility to potential users, governmental stance on crypto ownership, whether or not cryptos like Bitcoin can be used in banks, and the number of online searches.
Cypress, Singapore, Hong Kong, the United Kingdom, Ireland, Slovenia, Australia, Germany and Canada also ranked high in the report.
Crypto Head co-founder Adam Morris said their study focused on what freedoms and options consumers had regarding the fast evolving decentralized blockchain sphere. He said though there was positive news for the U.S., regulatory uncertainties were keeping potential commercial benefits from being realized:
“Our research also found that the United States is the most crypto ready for consumers, even though the government has been slow with regulation clarity over the last few years, which has actually driven most crypto business overseas.”
Cypress, a well-known tax haven, ranked high in interest in cryptos, based on search engine queries by the population. But the U.S. also ranked high. And with 17,436 crypto ATMs, the U.S. considerably outnumbered Canada and other countries in ATMs available per capita.

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